Granahan Investment Management LLC lessened its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 412,183 shares of the biotechnology company's stock after selling 76,712 shares during the quarter. Granahan Investment Management LLC owned 0.18% of Pacific Biosciences of California worth $3,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of PACB. First Horizon Advisors Inc. purchased a new position in Pacific Biosciences of California in the 4th quarter worth about $25,000. Harbor Investment Advisory LLC raised its position in Pacific Biosciences of California by 94.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company's stock worth $33,000 after buying an additional 1,767 shares during the last quarter. KRS Capital Management LLC purchased a new position in Pacific Biosciences of California in the 4th quarter worth about $71,000. Avestar Capital LLC purchased a new position in Pacific Biosciences of California in the 1st quarter worth about $100,000. Finally, Interchange Capital Partners LLC purchased a new position in Pacific Biosciences of California in the 1st quarter worth about $102,000.
Get Pacific Biosciences of California alerts:Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on Pacific Biosciences of California from $7.50 to $6.00 in a research report on Sunday, August 21st. Cowen decreased their target price on Pacific Biosciences of California to $8.00 in a research report on Tuesday, August 9th. Finally, Canaccord Genuity Group decreased their target price on Pacific Biosciences of California from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.00.
Pacific Biosciences of California Trading Up 8.1 %
Pacific Biosciences of California stock opened at $6.69 on Friday. The business has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $6.75. The company has a market cap of $1.50 billion, a P/E ratio of -7.27 and a beta of 1.33. Pacific Biosciences of California, Inc. has a 52-week low of $3.85 and a 52-week high of $31.10. The company has a quick ratio of 11.07, a current ratio of 11.50 and a debt-to-equity ratio of 1.31.Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. During the same quarter in the prior year, the company posted ($0.21) earnings per share. Analysts predict that Pacific Biosciences of California, Inc. will post -1.37 EPS for the current year.
Pacific Biosciences of California Profile
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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.
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